CHU Increases Strata Insurance Capacity to Support Larger Developments

Kimberley Jonsson, CEO of CHU, highlighted the importance of this development, noting that the increase in capacity allows CHU to independently offer quotes for larger risks and participate more substantially in co-insurance arrangements when necessary. This expansion provides greater flexibility and choice for customers, ensuring that CHU can meet the insurance needs of larger strata communities effectively.

The decision to increase capacity comes in response to the growing scale and complexity of modern strata buildings. As urban areas continue to densify, the demand for larger residential and commercial strata developments has risen. CHU's enhanced capacity ensures that these developments have access to comprehensive insurance solutions tailored to their specific requirements.

For strata owners and managers, this development offers several benefits. Firstly, it provides assurance that even large and complex properties can secure adequate insurance coverage. Secondly, the increased capacity may lead to more competitive premiums and terms, as CHU can now underwrite larger risks independently, reducing the need for multiple insurers and simplifying the insurance process.

In conclusion, CHU's expansion of its single risk capacity to $690 million represents a proactive response to the changing dynamics of the strata market. By aligning its offerings with the needs of larger developments, CHU continues to demonstrate its commitment to supporting the growth and resilience of Australian strata communities.